President Ferdinand R. Marcos, Jr. said the Philippines will play a major role in the regional trade and investment network as ASEAN leaders call for measures to enhance resilience in the face of uncertain global markets.
In his arrival statement in Manila after attending the 47th At the ASEAN summit in Kuala Lumpur, Mr Marcos said ASEAN was pushing to strengthen trade ties to maintain a “rules-based, open, inclusive, transparent and non-discriminatory” economic system.
He said the bloc's ongoing efforts on trade include amendments to the ASEAN Goods Trade Agreement and greater use of the Regional Comprehensive Economic Partnership (RCEP), which is expected to provide “transparency, stability and predictability” for investors.
“At a time when the rules-based trading system faces significant challenges, these agreements will provide transparency, stability and predictability – vital foundations for building confidence among businesses and investors and maintaining ASEAN’s role as a driver of regional and global growth,” Mr Marcos said.
He said the Philippines will continue to deepen partnerships with economies that share its commitment to peace and development while asserting its sovereign rights in the South China Sea in accordance with international law.
At the summit, ASEAN leaders discussed efforts to “future-proof” ASEAN economies through sustainable development with a focus on climate adaptation, education, green jobs and digital transformation.
Mr Marcos said discussions with the International Monetary Fund, the Group of 20 and BRICS underlined ASEAN's central role in global value chains.
On the sidelines, Mr. Marcos held bilateral meetings with the leaders of Japan, the European Union, Canada, Vietnam, Australia and the United Nations, with talks focused on trade, maritime cooperation and investment promotion.
They also welcomed the accession of Timor-Leste as the 11th member of ASEANth The member said the Philippines supports capacity-building efforts to integrate the new member into the economic and political framework of the bloc.
The President said the Philippines is preparing to assume the ASEAN Chairmanship in 2026, during which it will focus on inclusive growth, stability and regional connectivity.
“We look forward to taking ASEAN forward as we pursue our future together,” he said.
ASEAN is the world's fifth largest economy, with a combined GDP of nearly $4 trillion in 2023 and a population of over 670 million.
The region's strategic location, young workforce and deep integration through trade agreements such as RCEP have established it as an important hub for supply chains and emerging industries. , Chloe Marie A Hufana
